EBA consults on information exchanges between authorities regarding qualifying holdings

10 November 2015

The European Banking Authority (EBA) launched today a public consultation on its draft Implementing Technical Standards (ITS) on the procedures, forms and templates that competent authorities in the EU should use when consulting each other on qualifying holdings. The objective of these ITS is to streamline information exchanges and ensure effective communications between concerned authorities, both on a cross-border basis and across sectors. This public consultation runs until 10 February 2016.
 
The EBA has proposed a streamlined process for requesting information and related responses when competent authorities across the EU consult each other on acquisitions and increases of qualifying holdings in credit institutions. More flexibility is proposed in respect of the information that an authority can require, whilst a list of minimum information that should be requested is also defined.
 
The draft Implementing Technical Standards issued today lay down in detail the process and timeframes for notifying an information request and for responding to it, and provide a set of relevant templates for this purpose. Requirements for the designation of contact points within competent authorities, as well as requirements for language and means of communication are also developed.
 
When defining this process for information exchanges between authorities, the EBA has remained mindful of potential implications, at international and cross-sectorial level, involved in the acquisition of qualifying holdings across the EU.

Consultation process

All concerned parties are welcome to submit their views by 10 February 2016. Responses to this consultation can be sent to the EBA by clicking on the "send your comments" button on the consultation page.
 
All contributions received will be published following the close of the consultation, unless requested otherwise. A public hearing will then take place at the EBA premises on 18 January 2016 from 10.00 to 12.00 UK time.

Legal basis and next step

These draft ITS have been developed according to Directive 2013/36/EU (Capital Requirements Directive – CRD IV), which sets out the legal framework for the prudential assessment of acquisitions by natural or legal persons of qualifying holdings in credit institutions and of further increases of such holdings. In particular, Article 22(9) sets out a specific mandate for EBA to develop draft implementing technical standards to establish common procedures, forms and templates for the consultation process between the relevant competent authorities as referred to in Article 24 of Directive 2013/36/EU. 
 
Following the conclusion of the consultation period, the draft ITS will be finalised and submitted for endorsement to the European Commission.